Since 2020 annual social housing rent increases have been set at CPI + 1%

With current high inflation rates (CPI being 10.1%), housing rent increases for 2023/24 would likely be 11,1%.

In response, the government is consulting on a proposed direction from the Secretary of State to the Regulator of Social Housing – to set a ceiling on rent increases for 2023/24.

The consultation proposes a possible ceiling of 3%, 5% or 7% rent increases – while stating that its preferred option is 5%.

Our summary response and proposals to the consultation are:

• We agree that there should be a temporary amendment to the CPI +1% policy for social housing tenants for 2023/24 and potentially 2024/25 if CPI is still unusually high.
• We propose that rents be frozen at 2022/23 levels for all social and affordable rent homes. This should include existing, new, relet and sheltered homes – without a 5% flexibility (or 10% in respect of supported housing) above the formula. Likewise, the freeze should cover currently exempted social PFI and temporary housing.
• There should be a full review of the rent policy in 2025.
• Social landlords should have sufficient funding to manage and maintain existing and develop new social-rented homes.

Link here to the main content of the LTF response